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Progressing Tanzania's brownfield Rukwa Coalfields towards a commercial development decision

 

• Rukwa Coalfields - Mkomolo, Namwele and Muze projects - previously mined, near-surface coal deposits

 

• 173 million total tonnes in-situ at Mkomolo, Namwele and Muze combined, of which 57.5 million tonnes Measured and Indicated at 17.42 MJ/kg (float density = 2.0, yield = 34.4%)

 

• 90% of this resource tonnage lies within Mkomolo and Namwele; Muze still to be fully evaluated

 

• Coal confirmed as suitable, after washing, for coal fired power generation

 

• Robust geological model; resource constrained to discrete coal zones identified within the overall coal measure sequence

 

Website:
http://www.edenville-energy.com/
Phone:
+44 (0)20 7653 9855
Address:
Aston House, Cornwall Avenue, London N3 1LF.
Super Sector:
General Mining - Coal
Sector:
Mining
Industry:
General Mining
EPIC / Symbols:
LON:EDL
chart-size
*subject to change and depends on individual circumstances.

Edenville Energy RNS Press Releases

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Edenville Energy Articles, News, and Media Files

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Broker press

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  • 04/11/11
    +0.01 +0.38

    Press: Edenville Energy rose on news that it had completed drilling at the Rukwa Coalfield project in Tanzania. Source - Financial Times

  • 04/05/11

    Press: 04.05.11: -0.03, (1.20) Press: Edenville fell despite Grandinex International, an investment vehicle controlled by businessman Frank... read more

  • 06/12/10
    +0.19 +1.03

    Press: Edenville Energy rose strongly on rumours of a bullish update from its projects in Tanzania. Source - Financial Times

  • 06/10/10

    Press: 06.10.10: .-3, (.95) Edenville Energy was unchanged at 0.98p after announcing that City trader Chris Potts had acquired an 8% holding.

  • 13/09/10

    Press: 13.09.10: .-7, (.86) an article in the Guardian reports: Edenville Energy rose 16% to 0.9p following a positive update on its... read more

Director dealings

  • Page 1 of 2
Date Director Trans Amount Type Price(p) Value (£) Holding %
24/10/11 S. Rollason BUY 2,660,603 ORD 0.37 9,844 2,660,603 0.08
21/10/11 S.J. Schofield BUY 1,319,261 ORD 0.38 5,013 1,319,261 0.04
04/05/06 V. Stanzione BUY 500,000 ORD 4.00 20,000 45,567,300 70.80
10/05/05 V. Stanzione BUY 450,000 ORD 5.00 22,500 0,000 N/A
10/05/05 V. Stanzione BUY 1,000,000 ORD 5.25 52,500 45,067,300 70.22

BASIC RESULTS INFORMATION

  • Page 1 of 4
Date Type Turnover Profit EPS (p) Dividend (p) Currency
30/06/14 Interim 0.00 -0.53 -0.01 0.00 GBX
31/12/13 Full year 0.00 -2.37 -0.05 0.00 GBX
30/06/13 Interim 0.00 -0.30 -0.01 0.00 GBX
31/12/12 Full year 0.00 -0.64 -0.01 0.00 GBX
30/06/12 Interim 0.00 -0.32 -0.01 0.00 GBX

Company Statement

Edenville Energy’s strategy is to undertake mineral exploration of its portfolio of coal and uranium assets and ultimately to increase the value of its assets through the development of these resources and where appropriate, commence production of these economically feasible assets. Edenville has both coal hosting uranium projects and coal projects. The Company will initially evaluate potential targets within the prospective hosted assets where both uranium and coal are expected to occur together.

 

The Company will actively manage geological exploration on the licences by implementing a phased strategy that will progressively increase the level of geological understanding for each licence to facilitate more focused exploration and resource development in the longer term. All field work will be conducted by citizens of Tanzania under the direct supervision of Edenville Tanzania, who in return report directly to the Board of Edenville. 

 

Initial work will consist of a desk-top review involving the collection, collation and reinterpretation of all available historical data, supplemented by regional-scale geological reconnaissance mapping and sampling. This will define the host geological units for mineralisation and allow for progressively more focused and detailed exploration that will potentially lead into a drilling campaign and ultimately ore body delineation and subsequent mineral resource estimations.

 

Edenville Energy’s southern projects lie at the crossroads of the Mtwara Development Corridor Program, a regional development initiative involving areas of four co-sponsoring countries (Malawi, Mozambique, Zambia and Tanzania), that are or can easily be served by the Indian Ocean port of Mtwara.

 

The program includes the development and rehabilitation of roads, lake ports, pipelines, and air transport facilities, many of them with private sector participation.

Current Operations

Three Core Projects within the Rukwa Coalfields

The 3 coal deposits of Mkomolo, Namwele and Muze all lie within the Rukwa Coalfield. All 3 projects are controlled by Edenville Energy and sit in a cluster; Namwele and Mkomolo are adjacent and Muze lies just 12km to the east.

Edenville Energy has a 90% interest in these deposits through Primary Mining Licences ("PML") and the remaining 10% is held by the local partner on the project. EDL also controls the Prospecting Licences surrounding the PML, that have been obtained from the Tanzanian Ministry of Mines and Energy.

All 3 projects are located close to existing infrastructure. Mkomolo and Namwele lie 25kms by road to the North-east of the major regional centre of Sumbawanga. Sumbawanga has a population of 30,000 and has banks, hotels, diesel, supermarket and regional government infrastructure. Muze is located close to the small village of the same name but does not have any services available.

There are several water sources nearby; Namwele and Mkomolo have a series of streams and small rivers close by, some of which flow all year round, and Muze is located close to the shore of Lake Rukwa which is a major source of water for the district. These supplies of water have the potential to wash the coal post extraction, adding value to the final product and supporting its commercial viability for power generation.

The Rukwa regions are currently dependent on electricity imported across the border from Zambia. Edenville's Rukwa Coalfields projects have strong political support and are located in the Mtwara Development Corridor; this is a Government backed development zone and an area of significant energy-related activity.

Edenville's projects have the potential for low cost setup to generate near-term positive cash flow. The combination of shallow outcropping coals and an established local/regional industrial demand to facilitate cement, paper and textile production gives flexibility regarding size of initial operations and end user. The Rukwa Coalfields are strategically located with regards to electrification plan for South Western Tanzania's scheduled new power transmission lines linking the north and south of the country. All 3 projects lie within 10km the east of the proposed route for the powerline and are some 300 km from the next nearest source of coal at Kwira.

Should the proposed powerline be built, the clustered nature of Edenville's 3 projects could potentially allow flexibility in production to satisfy both industrial and power production requirements.

Management

Chairman - Sally Schofield

BEng (Hons) Industrial Geology, ACSM, FGS, MIMMM

17 years international resource industry experience. Previously Edenville Non Executive Director, graduate of Camborne School of Mines (Industrial Engineering Geology). Director / Senior Officer positions held; including COO – Latitude Resources plc, ($20 M acquisition) VP - European Goldfields (>$2bn acquisition by Eldorado Gold, 2011). Experience of aligning operational activities and commercial strategic goals. 

Her business skills have been recognised by several external parties, including Management Today, Courvoisier Future 500 and HM The Queen. Sally graduated from the Camborne School of Mines with a First Class B. Eng (hons) Industrial Geology in 1995, is a Fellow of the Geological Society (FGS) and a Member of the Institute of Directors (MIod).

 

Chief Executive Officer - Rufus Short

25 years + experience in the resources industry in Australia, UK, Asia and Africa; 19 years in development and operational mining projects with blue chip mining companies. Qualified mining surveyor and mine planning engineer, with MSc in Mineral Economics. 

6 years investment banking experience (Investec plc) experience of debt management , hedge funds, listed and private equity investments. Extensive experience in development of remote coal, gold, silver and copper mines in Kalimantan, Laos and the FSU.

 

Finance Director - Rakesh Patel

BA Economics, FCCA, CF

20 years + Chartered certified accountant ; extensive experience in corporate finance, mergers, divestments and acquisitions, private placing and stock market flotation. Acted in 30 + AIM admissions and transactions. Interim / part-time director to private and public companies. Corporate finance partner at Adler Shine LLP, a London based firm of Chartered Accountants.

 

Non Executive Director - Arun Srivastava

Arun has a rich and varied work experience of more than 40 years in the power industry, spread across turnkey development and operation of power plants, acquisition of fuel sources and liaison with regulators and representing industry and completing management of large size coal and gas based power projects.

Arun served as Managing Director and CEO of Essar Power Limited for 10 years until 2009 during a 19 year career with the company. At the time of his leaving, Essar Power, the power generation arm of Essar Group, operated five power plants with a combined capacity of 1200 MW across three locations in India and was expanding its generation capacity to 6000 MW. With in-house mining operations and licenses for power transmission and trading, the company was a fully integrated, end-to-end player within the power sector.

Prior to his role at Essar, Arun spent 13 years (1977-1990) at NTPC Limited, India’s largest power generation company with a current installed capacity of 45000 MW plus coal-based and gas-based plants located across the country. Arun was responsible for preparing detailed project reports and implementation of various engineering aspects of these power projects. Key responsibilities included analysing coal properties for suitable selection of technology, including various types of boilers and coal and ash handling systems.

Arun currently acts as an independent consultant in the power sector and has advised companies both in India and abroad, as an Independent Director on the Board of Prolec-GE, Promoted Indo Tech Transformer Ltd (a publicly listed company in India), Evonik Energy Services(I) Pvt Ltd (Indian Consultancy subsidiary of Evonik Group, Germany), Smart Power Group, a US based group engaged in renewable energy technologies and Enam Holdings Pvt Ltd, the investment arm of Enam Group with large proprietary capital invested across companies/sectors.

 

Non Executive Director - Mark Pryor

BSc (Hons) Geology & Mineralogy, FGS, FSEG, Pr.Sci.Nat

25 years + of geological & management experience in exploration and mine development projects worldwide. Senior management positions with Placer Dome, Minefinders and Anglo American; specialised in evaluation and acquisition of mineral properties. 'Qualified Person' as defined by the Canadian Securities Commission.

Major Shareholders

  • Additional Information
    Market
    AIM
    EPIC
    EDL
    Share Price
    0.07p
    Change
    -0.01
    Volume
    61,499,984
    Dividend
    0
    EPS
    -0.05
    Shares
    7,811.92 m
    Offer
    0.08
    Bid
    0.06
    Yield
    0.00
    P/E
    -265.26
    Mkt Cap
    £5.47 m
  • Contact Information

    Company Address

    Aston House,

    Cornwall Avenue,

    London, N3 1LF.

    info@edenville-energy.com

     

    Registered Office

    Edenville Energy PLC,

    Aston House,

    Cornwall Avenue,

    London, N3 1LF.

    Corporate Information

    Solicitors

    Harbottle & Lewis LLP,

    Hanover House,

    14 Hanover Square,

    London, W1S 1HP.

     

    Bankers

    Barclays Bank,

    11/12 Market Square,

    Buckingham, MK18 1NS.

     

    Auditors

    H W Fisher, Acre House,

    11-15 William Road,

    London, NW1 3ER.

     

    Nominated Advisors and Broker

    Cantor Fitzgerald Europe

    One Churchill Place, Canary Wharf, London, E14 5RD.

    +44 20 7894 7000

     

    Registrars

    Capita Registrars,

    PO Box 25,

    Beckenham, BR3 4BR.

     

    Company Secretary

    David Venus and Company LLP,

    Thames House,

    Portsmouth Road,

    Esher,

    Surrey, KT10 9AD.

     

    Public Relations

    IFC Advisory Ltd

    73 Watling Street, London, EC4M 9BJ.

    Tel: +44 (0) 203 053 8671 

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